Why would a politician want a list of people who own precious metals? Two reasons come to mind – and both could be true. First, people who stock up on gold or silver are assumed to be preparing for tough times. They’re ‘Preppers’. Preppers typically are also stocking up on food, guns, and ammunition. They may have these things in their homes before registration of them goes into effect.
Second, so the gold and silver can be confiscated.
Here is a link to SB3341 filed with the Illinois General Assembly. The synopsis says this:
Creates the Precious Metal Purchasing Act. Provides that a person who is in the business of purchasing precious metal shall obtain a proof of ownership, create a record of the sale, and verify the identity of the seller. Provides that a person who is in the business of purchasing precious metal shall not pay for the precious metal in cash and shall record the method of payment. Requires the purchaser to keep a record of the sale for one year or, if the purchase amount is over $500, for 5 years. Provides that a person who violates the Act is guilty of a petty offense and subject to a fine not exceeding $500. Provides that the Attorney General may inspect records, investigate an alleged violation, and take action to collect civil penalties.”